Definition of Product.
Should the definition of 'Product' be standardized in an organization.
I'm working at a large bank where the challenges we face around this are :
1) Compliance projects - which do not touch any banking Products for example FATCA. Should they even be considered for Scrum.
2) Products can be banking related example Current Account, Home Loan Account etc or sometimes even some of the application systems are called as Products example Mobile application.
> Should the definition of 'Product' be standardized in an organization.
Yes. It ought to be standardized in terms of managing a Product Backlog, with a clear Product Owner who is responsible for it and the value that is incrementally delivered.
And what about compliance type of projects that do not necessarily look to build a Product. Do you recommend they can follow Agile & Scrum.
Have a read of the Scrum Guide, including what it has to say about a Product Backlog, a Product Owner, and delivering through incremental and usable releases. Does the "compliance" function have a stake in that process or in the quality of its outcomes?
NB bear in mind that a product could be any asset or service under the bank's control, for which a backlog of work can be owned with value delivered incrementally, and with a corresponding reduction in risk.
Perfect, thanks Ian, makes sense now.